Revisiting U.S. Banks’ Home Equity Portfolios: Have Losses Abated or Is More Pain in Store? - Fitch Research

Revisiting U.S. Banks’ Home Equity Portfolios: Have Losses Abated or Is More Pain in Store?

9 pages (7110 words) — Published Jun 09, 2010
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Brief Excerpt:

...Just over two years ago, Fitch Ratings highlighted increasing losses and asset quality pressures in a special report titled "U.S. Home Equity Woes: Banks Grapple with Higher Losses," dated March 14, 2008. Additionally, Fitch took negative rating actions on eight large U.S. banking companies based in part on their exposure to home equity and other consumer loans as well as Fitch's belief that losses would be much higher than previously anticipated. Furthermore, since then, Fitch, in its rating process, has applied various stresses to banks' loan portfolios, including home equity. Additionally, banks have worked to reduce open credit lines, curtailed originations from the most problematic channels, and generally shrunk their exposure to this asset class. Additionally, three of the top five institutions representing some of the most heavily concentrated lenders in this space (Countrywide, National City, and Washington Mutual) have been absorbed by other institutions. However, the tepid housing...

  
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MLA:
Fitch Research. "Revisiting U.S. Banks’ Home Equity Portfolios: Have Losses Abated or Is More Pain in Store?" Jun 09, 2010. Alacra Store. Oct 02, 2014. <http://www.alacrastore.com/fitch-credit-research/Revisiting-U-S-Banks-Home-Equity-Portfolios-Have-Losses-Abated-or-Is-More-Pain-in-Store-531687_report_frame>
  
APA:
Fitch Research. (). Revisiting U.S. Banks’ Home Equity Portfolios: Have Losses Abated or Is More Pain in Store? Jun 09, 2010. New York, NY: Alacra Store. Retrieved Oct 02, 2014 from <http://www.alacrastore.com/fitch-credit-research/Revisiting-U-S-Banks-Home-Equity-Portfolios-Have-Losses-Abated-or-Is-More-Pain-in-Store-531687_report_frame>
  
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